Algos Face Fragmentation, Complexities in '08

The choice of where to co-locate algorithmic trading and data analysis engines has thus far been relatively easy, since stocks and execution venues have traditionally been intrinsically tied together. For example, the European equities market remains largely fragmented among individual member states, and in most cases there is only one trading venue for any individual stock.

Thus, if you want to trade UK stocks, you co-locate in a London datacenter with low-latency access to the LSE and Inst